Time Inc. Cuts 300 Jobs as Part of Its Restructuring
In a memo to staff last week, Time Inc. (NASDAQ: TIME) announced it would cut 300 jobs through layoffs and buyouts, reports USA Today. The jobs to be eliminated represent about 4 percent of the company’s global workforce. More than half of the jobs to be cut are based in the U.S., and 40 percent will come from employees who accepted voluntary buyouts. Time Inc. owns more than 100 magazine brands including Time magazine, Sports Illustrated, Fortune, Life, Cooking Light, Food & Wine and Golf Magazine.
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